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How will the massive technology layoffs in the US affect the Internet?

So many companies are downsizing right now including Livejournal and other blog and web services. How do you think this will take it's toll on the World Wide Web? Many valid arguments have stated that the US is the Internet. If this is true and the US is going down, is there a chance the Net will fall? Or, in other words, who catches the Net?

If all the large, well-funded tech companies fail, the internet would most likely revert to the way that it used to be - simpler, smaller websites, with a network dominated solely by tech savvy people. It would no longer be easy to go buy a website and have all the major work done for you, you would actually need to have some ability in creating a website. It would be like starting the internet from scratch.

I don't think that's necessarily true. In the past if you wanted to make a website you needed to know a decent bit about computers and programing language. Now there is lots of software that make it so anyone with even a basic understanding of computers can put together a decent looking website. In fact, it might even be easier and cheaper to make a website, because all those "tech savvy people" who used to be employed would need to find work elsewhere, and might turn to part time web-design as an option.